CAIRO: Bank Misr agreed to re-launch at least 30 stumbling projects for Egyptian investors and the Investors Union and Egyptian Banks Union are trying to restart stalled factories in industrial regions, according to the Director of the committee of Energy and Transport in the Egyptian Union of Investors associations, Mohamed El Sayed. Bank Misr agreed to re-launch such projects, after studying all the stumbling projects and determining the needs. The bank decided the convenient decision is to present them to investors, whether by sales or contributing to the bank's capital or administration only, it would depend on each project. El-Sayed said he took over coordination between Bank Misr and willing investors to enter this deal. He pointed out most of the investors are Egyptian and working with the same stumbling projects. There are claims the committee of Transportation and Energy in the Egyptian Union of the Investors Associations are re-launching stumbling projects seized by public banks like El-Ahly, Misr and Cairo banks. The committee is working to re-enter these projects to the labor market and maintain their workers.
